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This tutorial shows how to loosely knot a seed bead bracelet with a button clasp, using tigertail and seed beads (this uses Soft Flex .019 Beading Wire). This is basically doing macrame alternating half-hitches with the tigertail (which is filled up with seed-beads) and because the tigertail is stiff-but-springy, you can make the knots very loose (hardly "knots" at all) and you get a lovely Celtic-looking set of loops around each other. You could probably do something similar with round leather cord (though without the beads, or with very large-hole beads).